This exclusive small city is a perfect blend of urban and suburban living with plenty to do.  Proving its versatility, there is an active farm with a farm stand, upscale shopping centers, and numerous playgrounds and recreational parks that boast great views of Boston.  It’s also home to the oldest country club in the nation, appropriately titled The Country Club. The location doesn’t hurt either. It’s an easy commute into Boston, and residents can walk a short distance to Fenway to catch a Red Sox game.

Don’t have a family?  Don’t rule Brookline out just yet.  It also made Money Magazine’s list of the ‘Top 25 Best Places for the Rich and Single’.  The article describes these locations as where the highly educated and affluent young professionals reside, and further describes them as “suave” and “sophisticated”.  Looks like Brookline has something for everyone!

Brookline also happens to be filled with some of Boston’s prime luxury real estate. A Warren Residential agent can provide additional information regarding buying or renting a Brookline apartment or Brookline condo. Contact us to help you make the most of your search for Brookline real estate.

You can view the article and the rest of the locations that made the top 100 here.

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“The Warren Group, a Boston-based real estate tracking firm, provided us with the following median prices for 2005 and 2009 (2005 was considered the market peak in Massachusetts; since then, the median single-family home price has shrunk by 20 percent statewide).”

Here are the top 10 picks.

If you are interested in learning more on current great investments or wish to know how your Massachusetts town is weathering the storm please contact a Warren Residential agent, we are happy to assist you.

#10. BROOKLINE

Median single-family home price in 2009: $1,169,250
Change since market peak in 2005: +4%
Median condo price in 2009: $451,000
Change since market peak in 2005: -3%
Population: 54,896
Residential tax rate: $10.97

#9. WESTON

Median single-family home price in 2009: $1,207,600
Change since market peak in 2005: +1%
Median condo price in 2009: $665,000
Change since market peak in 2005: +9%
Population: 11,711
Residential tax rate: $11.10

#8. DOWNTOWN BOSTON (BACK BAY – BEACON HILL – WEST END – NORTH END - WATERFRONT – MIDTOWN – CHINATOWN – SOUTH END)

Median single-family home price in 2009: $1,958,000
Change since market peak in 2005: +45%
Median condo price in 2009: 510,000
Change since market peak in 2005: -2%
Population: 79,731
Residential tax rate: $11.88

#7. NATICK

Median single-family home price in 2009: $417,750
Change since market peak in 2005: -9%
Median condo price in 2009: $310,000
Change since market peak in 2005: +29%
Population: 31,880
Residential tax rate:$11.67

#6. LYNNFIELD

Median single-family home price in 2009: $495,000
Change since market peak in 2005: -12%
Median condo price in 2009: $452,200
Change since market peak in 2005: +45%
Population: 11,412
Residential tax rate: $12.84

#5. ROWLEY

Median single-family home price in 2009: $420,000
Change since market peak in 2005: -10%
Median condo price in 2009: $349,900
Change since market peak in 2005: +75%
Population: 5,738
Residential tax rate: $12.50

#4. WINCHESTER

Median single-family home price in 2009: $710,000
Change since market peak in 2005: -3%
Median condo price in 2009: $360,000
Change since market peak in 2005: +9%
Population: 21,090
Residential tax rate: $11.51

#3. CAMBRIDGE

Median single-family home price in 2009:$680,000
Change since market peak in 2005: +2%
Median condo price in 2009: $408,000
Change since market peak in 2005: -3%
Population: 105,596
Residential tax rate: $7.72

#2. JAMAICA PLAIN

Median single-family home price in 2009: $529,000
Change since market peak in 2005: +6%
Median condo price in 2009: $316,650
Change since market peak in 2005: -2%
Population: 38,074
Residential tax rate: $11.88

#1.  WENHAM

Median single-family home price in 2009: $550,000
Change since market peak in 2005: +5%
Median condo price in 2009: $599,000
Change since market peak in 2005: +87%
Population: 4,788
Residential tax rate: $15.56 per $1,000 of assessed value

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We handle Boston and Cambridge area apartment rentals for people who make millions of dollars a year to students with no income what-so-ever and everyone in between.  With that said, many of our renters need a co-signer of some sort.  Here are some reasons why you might need a co-signer:

• Lack of Credit
• Bad Credit
• Lack of Income
• Bad landlord reference

The problem most people have is actually finding a co-signer.  How many of your friends would put their credit and money on the line for you?

Well, this is where WeCosign.com comes in.  They saw an opportunity and here is how it works:

1. An applicant who doesn’t meet the Landlords FICO score criteria is directed to call WeCosign so they can determine their eligibility for their service.
2. WeCosign reviews the applicant, and if approved they will cosign their lease agreement and act as their guarantor.
3. The landlord collects the rent from the tenant as usual, and the tenant pays WeCosign an additional monthly fee for their service.
4. In the event that a tenant stops paying their rent, WeCosign assumes financial responsibility under the terms of the lease agreement.

It’s that simple.  It’s really a genius idea that fulfills a big need.

So now that you have your co-signer, you need to find an apartment.  Clink the links below to do that!

Search for Your Boston, Cambridge, or Brookline Apartment Here

Browse all Cambridge Apartments Here!

Browse all Boston Apartments Here!

Browse all Brookline Apartments Here!

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According to rentBits, a rental search engine for apartments and rental homes, the average rental rates for Boston have seen a slight increase October over September. Collectively, across all bedrooms, the average rental rates has risen from $2483 in September to $2526 in October.

“As demand for rentals begins to increase, and supply remains constant, average rental rates will continue to climb.” says Dan Daugherty, CEO of rentBits. “In Boston, our data shows an increase in rental rates for both Apartments and Single Family Homes.”

In most other cities across the US, rental rates for apartments are seeing a slight decrease for the year. Much of this is due to a decrease in demand. Many renters for apartments are either moving into a single family home rental, moving back in with Family or sharing rooms with friends. This transitional period has put downward pressure on most apartment rental rates.

I’m not sure where they get all of their data but you can check out their site at rentBits.com.  Personally, I haven’t seen rental rates rising.  In good areas they are down about 5% but in fringe areas we have seen units rent for 10-15% below what we rented the same apartment for last year!

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Back Bay Apartments:

2 Bedrooms across from the Mandarin Oriental $3500-6500:

These beautiful Back Bay apartment rentals have been completely renovated for 2009.  Brand new stainless steel appliances with gas cooking can be found in all the kitchens.  Beautiful gas fireplaces are in every one of these Back Bay apartments as well.  Each unit has a balcony to enjoy drinks on as well as a beautifully landscaped common roof deck, perfect for the 4th of July!

South End Apartments:

2 Bedroom, 2 Bathroom Lofts in the South End for $3250:

This particular South End Loft is a Penthouse 2 bed with private deck located in the hottest section of the South End. The unit features cherry hardwood floors and granite counters with stainless steel appliances. The rent includes ac and it has a washer dryer in the unit.

Beacon Hill Apartments:

Beautiful Beacon Hill rental along Mt. Vernon St. featuring 2 bedrooms and 2 bathrooms for $5000:

Truly a one-of-a-kind luxury, furnished apartment available for a short or long term lease (6 mo min requested but not required). The beautifully decorated, extremely large apartment boasts nearly 1700 square feet, 7 rooms, and the living room features 12+ foot windows and 14 foot ceilings. The bedrooms are situated wonderfully to provide a quiet setting with an abundance of space and light, and the living room is expansive beyond belief. Less than two blocks from the Boston Common, the apartment is located on one of the most beautiful and quiet streets in Beacon Hill.

Ritz Carlton Apartment Rentals:

2 Bedroom, 2 Bathroom with Balcony for $4550:

This beautifully renovated 2 bedroom, 2 bathroom apartment at the Ritz Carlton in downtown Boston is available immediately for $4550 per month.  It features granite counter tops, new Tiger Wood hardwood floors, and a great balcony off of the master bedroom.

There are plenty more where these came from but this should give you a good taste of what you can get out there.  We have units ranging from $1200 studios to $30,000 penthouses so no matter what your budget is, we can help.  Give us a call at 617-848-9616 ext. 2 or email us at rentals@warrenre.com.

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In a recent article in Business Week it listed the top Metro areas with the biggest rental rate drops.  The Boston, Cambridge, and Quincy area were lumped in together and ranked #10 on their list with a drop of 2.8% to $1634.20 in the Q4 of 2008 vs. Q4 2007.   Other important numbers included a rise in unemployment from 3.6% to 5.0% and vacancy rates from 4.7% to 6.0%.  They noted that on average, landlords were conceding 1.3 weeks of free rent.

Other notable Metro area drops:

Seattle-Bellevue-Everett, Wash.

Rank: 5
Rent drop: -3.5%
Q4 2008 rent change: -3.8%
Q4 2007 rent change: -0.3%
Effective rent: $1,161.60

New York-Wayne-White Plains, N.Y./N.J.

Rank: 4
Rent drop: -3.7%
Q4 2008 rent change: -3.2%
Q4 2007 rent change: 0.5%
Effective rent: $2,672.20

Salt Lake City

Rank: 1
Rent drop: -5.7%
Q4 2008 rent change: -2.3%
Q4 2007 rent change: 3.3%
Effective rent: $810.30

My Thoughts:  We have definitely noticed large landlords and management companies changing some of their strategies when it comes to renting their apartments.  Many are offering to pay the brokers fee for our clients as well as give 1 or 2 free months of rent.  However, prices have not dropped dramatically in the Boston proper neighborhoods of Back Bay, Beacon Hill, Midtown, and South End where high demand and a small supply has kept prices fairly stable.

Warren Residential Group rental agents are trained in negotiating with landlords and getting you the best price and most concessions possible but we also are here to manage your expectations and help educate you on the market.  We try to teach you throughout the rental process about the market and specific buildings so you know you are getting a good price.

Related posts:

1. Boston Apartment Rentals – Fall Inventory Many of you out there might be thinking that since...
2. Boston Apartment Rental Data A representative from a company called rentBits reached out to...
3. Need a Co-Signer for your Boston or Cambridge Area Apartment? No Problem! We handle Boston and Cambridge area apartment rentals for...